Swift shot

• BNB currently trades for 799.01 USD (+5.82% in 24h) • RSI binance coins at 87.91 Extreme signals assumed to be started • record level 788 USD achieved yesterday disk continuation of the stubborn sentiment

What drives the price of the binance coin?

Summary of BNB prices continues the extraordinary trajectory after yesterday’s historical achievement of the recent highest all time in the amount of 788 USD. This milestone was launched by a fresh shoot, and traders now watched the psychological level of USD 800, which BNB touched today.

The current rally is based on sturdy foundations established last week, when BNB exceeded USD 720 on July 17, driven by the main network improvements, strategic burns of tokens and recent partnerships. The breakthrough from July 16 to 700 USD meant a key moment when traders for the first time began to seriously consider a goal of USD 1000, which seems more and more achievable.

What means that today’s price is particularly significant is indefinite purchase pressure despite the already increased levels. The price of BNB has maintained its trajectory up even after reaching the unprecedented territory, suggesting the true institutional and retail demand, not speculative foam.

Technical Analysis BNB: Extreme signals are stubborn

Technical analysis of the binance coin reveals an extremely sturdy configuration of stubborn, though noteworthy warnings. The RSI BNB reading of 87.91 places them on an extreme territory purchased, usually a signal for a potential low -term consolidation or withdrawal.

However, MacD Binance Coin tells a different story with reading 31.81 well above the signal line at 21.42, creating a 10.40 histogram value, which indicates a solid stubborn rush. This discrepancy between the purchased RSI conditions and sturdy MacD signals often occurs during powerful trend movements.

The average movable structure is strongly conducive to growth, and BNB trade significantly above all key average. The current price is 42.94 USD above 7-day SMA at 756.07 USD, and a significant USD 94.16 above 20-day SMA each $ 704.85. This separation indicates a sturdy shoot, but also suggests susceptibility to any profit.

The Bollinger Bands Binance Coin position shows BNB trade above the upper band for 791.13 USD, and the %B reading of 1.0456 confirms the breakthrough above normal commercial ranges. While this signal also warns against the potential average reversal pressure.

Binance coin price levels: key support and resistance

The direct BNB resistance is USD 804.70, representing today’s highest and critical test for Bulls trying to establish USD 800 as a recent floor. Convincingly breaking this level can cause another leg towards a psychological goal worth USD 1000, which salesmen discussed.

On the other hand, Binance coin support levels are well defined, but distant from current prices. Immediate support of USD 650.21 is a significant decrease in 18.6% compared to current levels, emphasizing the extended nature of this rally. More significant support exists after USD 601.25, although achieving this level would probably require a sedate change in moods.

BNB resistance at current levels becomes particularly crucial, taking into account the 24-hour trade range from USD 745.00 to USD 804.70. This range of USD 59.70 shows the variability that accompanied this breakthrough movement, and the daily ATR in the amount of USD 21.88 suggests constant price fluctuations.

Should you buy BNB now? Risk prize analysis

For aggressive salesmen, the BNB price campaign offers attractive but high risk. Based on the Binance point data, a breakthrough above 788 USD is a classic pattern of continuation of the shoot, potentially focused on the range of USD 850–900 before encountering sedate resistance.

Conservative traders should be particularly careful, taking into account the conditions of RSI BNB and distance from significant support levels. The prudent approach may include waiting for withdrawal to the range of 720-750 USD, in which the levels of support for binance coin are in line with previous retaining support.

Swings may consider the scaled approach, taking part in each weakness below 780 USD while maintaining stops below USD 750, in which many technical indicators coincide. Heating the risk becomes more favorable with every decline that allows you to enter the established support.

Risk management becomes critical at these levels, with the size of the positions reduced to take into account increased variability and extended technical conditions that can cause a keen reversal.

Application

BNB prices rally to 799.01 USD is an extraordinary achievement, pushing Binance coin into an unknown territory with a real movement of movement. While technical indicators show that justified conditions justify caution, underlying the stubborn structure remains intact with clear goals above USD 800. Traders should prepare for increased volatility, because BNB is testing these historical levels, carefully taking into account the resistance of USD 804.70, which could determine whether this rally extends to an ambitious target of 1000 USD, or is facing a meaningful correction to a meaningful correction to established support zones.

Image source: Shutterstock